How gold is priced in Switzerland
Swiss banks and dealers quote gold in francs per kilo and per ounce, and jewellers per gram, with 18K (750) the standard for jewellery and watches. The figures here are spot gold converted at today's USD/CHF rate — the metal value before dealer premiums and, for jewellery, VAT.
VAT and tax on gains
Swiss VAT law exempts investment gold (with credit for input tax): cast or pressed bars of at least 995 fineness stamped by a recognised assayer-melter, sealed granules of the same purity, and state-minted gold coins (VAT Act Art. 107, VAT Ordinance Art. 44). Gold jewellery and other gold articles carry the standard 8.1% VAT.
Switzerland does not tax private capital gains on movable assets, so private investors normally pay no tax on gains from gold; people classed as professional traders are the exception. Gold counts towards cantonal wealth tax at its year-end value.
A global refining hub
Several of the world's largest gold refineries are in Switzerland, mainly in Ticino and Neuchâtel, and a large share of the world's gold passes through the country to be recast into kilo bars and small bars. Banks and dealers price from the international dollar price converted into francs. Because the franc has been strong, gold has risen less in francs than in most other currencies over the long run.
The Vreneli and Swiss hallmarks
The Vreneli 20-franc coin (struck 1897–1949, 6.45 g of 900 gold) contains 5.806 g of pure gold and is still the best-known Swiss gold coin; the 10-franc version holds half as much. Swiss precious-metal articles must carry a fineness mark and a registered responsibility mark. The official hallmark of the Precious Metals Control, part of the Federal Office for Customs and Border Security, is compulsory for watch cases and voluntary for jewellery. Legal gold finenesses are 999, 916, 750, 585 and 375.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.